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Dangote refinery IPO targets 10 million retail investors in Africa

The planned IPO is set to raise $1.6 billion and value the largest refinery in Africa.

Reported · Written up by our desk · Energy

OilPrice reports that Nigeria’s Dangote refinery is moving toward an initial public offering as Aliko Dangote, Africa’s richest man, pitches the deal as an “IPO for the people.”

According to the report, the Dangote group has launched a marketing campaign aimed at attracting 10 million retail investors ahead of what it describes as Africa’s biggest IPO.

OilPrice says the IPO is planned to raise $1.6 billion and value the largest refinery in Africa.

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